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and

If the transfer is from log(wealth) players to linear(wealth) ones, and at the same time we know over the long run the former almost surly makes the most return, then here comes the question: where is wealth going on earth?

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and

heh yeah so people who talk about kelly glowingly do so very deceptively as time goes to infinitey the odds kelly beats a competitor limit to 1, but also the amount they lose by if they don't win limits to infinity and the tail cases diverge up in value more than down in prob

1:48 AM · Dec 3, 2020Twitter Web App

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and

FWIW, Kelly criterion has a key assumption that your strategy has an edge against the market all the time. I really doubt it’s true even for the most sophisticated prop trader, aka maybe for the most of time but not all.